Terra TVL Climbs To New High Amid Bitcoin Buying Spree
Terra total value locked (TVL) is on the rise. The network had quickly grown to become one of the top decentralized finance (DeFi’0 contenders in the space, surpassing well-established and popular networks like the Binance Smart Chain (BSC). While Terra’s growth has come from its unique staking offerings to users, it has also received a […]
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Following the Terra LUNA and UST fallout, digital currency markets have dropped in value as the crypto economy dropped 6.93% from $1.356 trillion on May 22, to today’s $1.262 trillion. Amid the market carnage, bitcoin’s market dominance has increased to 43.8%, reaching the highest value since October 30, 2021. Moreover, ethereum’s market dominance has slid from 19.56% on April 16, to today’s 17.1%.
Bitcoin Dominance Reaps Rewards from Terra’s Demise
Bitcoin (BTC) dominance among the 13,445 crypto market caps in existence today is 43.8%,....
Terra (Luna) was one of this week’s biggest crypto losers, falling by as much as 20% during Friday’s session. Declines in terra came as cosmos (ATOM) also had a double-digit decline.
Biggest gainers
Although crypto markets were mainly trading in the red, symbol (XYM) was one of the rare exceptions to climb higher today.
XYM rose to an intraday high of $0.1728 during Friday’s session, rising from an earlier low of $0.155.
This move started when the symbol surged from its support at $0.146, an area where it has been trading around for the....
Terra’s commitment to filling up its coffers with Bitcoin has been solidified once more with another $1.5 billion purchase. This is the fruit of a pledge that the project had made to buy more than $10 billion worth of BTC to serve as a reserve for its stablecoin, UST. More importantly, though is how this boosts the foundation’s standing when it comes to corporations holding the digital asset. Terra Now Holds More BTC Than Tesla Before Terra had begun its bitcoin buying spree, there have been other corporate bodies that had already made the plunge to do so. The likes of MicroStrategy,....
Some of the world's biggest banks are increasing their exposure to the digital asset market despite the recent market volatility. Is this a sign of things to come? Has there ever been a worse time to be in crypto? It depends on how you look at it. Amid Terra’s death spiral, Bitcoin (BTC) recording seven-consecutive weekly red candles, over $1 trillion in lost market cap across the ecosystem and an aggressive Federal Reserve hell-bent on reversing the chaos it created, major banks are quietly increasing their exposure to the sector. You’re going to love this: Goldman Sachs — once the most....
Terra co-founder Do Kwon reveals that the firm will be buying Bitcoin "in perpetuity" to back new mints of its UST stablecoin. Bitcoin (BTC) is the collateral asset of choice for the world's biggest decentralized stablecoin, and one of its top executives says there was no other.Speaking to Bloomberg on April 4, Do Kwon, co-founder of Blockchain protocol Terra, pledged to continue buying BTC to back the firm's stablecoin, TerraUSD (UST).Kwon: BTC buys will continue "in perpetuity"Terra has made waves inside and outside the crypto community in recent weeks thanks to its massive Bitcoin....